Prosperity Consulting Group LLC Raises Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Prosperity Consulting Group LLC boosted its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 31.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,435 shares of the manufacturing equipment provider’s stock after purchasing an additional 589 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Applied Materials were worth $502,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC acquired a new position in Applied Materials during the 1st quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Applied Materials in the fourth quarter worth $27,000. DSM Capital Partners LLC acquired a new position in shares of Applied Materials in the fourth quarter worth $37,000. Accent Capital Management LLC bought a new stake in shares of Applied Materials during the 4th quarter worth about $41,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of Applied Materials during the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Brice Hill sold 20,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the sale, the chief financial officer now owns 108,356 shares of the company’s stock, valued at $24,091,873.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Teri A. Little sold 7,500 shares of Applied Materials stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the sale, the senior vice president now owns 78,712 shares in the company, valued at $16,767,230.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brice Hill sold 20,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total value of $4,446,800.00. Following the completion of the transaction, the chief financial officer now directly owns 108,356 shares of the company’s stock, valued at approximately $24,091,873.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,827 shares of company stock worth $21,382,560. Corporate insiders own 0.29% of the company’s stock.

Applied Materials Stock Down 0.3 %

Shares of AMAT stock traded down $0.72 during trading hours on Friday, reaching $242.59. 4,076,227 shares of the company’s stock were exchanged, compared to its average volume of 4,758,209. Applied Materials, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $249.42. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.30. The company has a market cap of $200.86 billion, a price-to-earnings ratio of 27.88, a P/E/G ratio of 3.18 and a beta of 1.56. The stock’s 50 day moving average is $222.78 and its 200-day moving average is $198.40.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. The business had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $6.54 billion. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.00 EPS. Analysts predict that Applied Materials, Inc. will post 8.31 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. Applied Materials’s dividend payout ratio (DPR) is 18.39%.

Analysts Set New Price Targets

AMAT has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on Applied Materials from $255.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Mizuho upped their price objective on shares of Applied Materials from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 17th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Applied Materials in a research report on Thursday, April 11th. They set a “hold” rating and a $225.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on shares of Applied Materials from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Finally, Evercore ISI assumed coverage on shares of Applied Materials in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $260.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.84.

Applied Materials Profile

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.